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&#39IFA consortiums can win in e-mortgages&#39

IFAs should set up consortiums to buy software designed for e-mortgages,

says Mortgage Code Compliance Board chief executive Luke March.

He believes it is one important way that IFAs can stay ahead in the

e-mortgage market.

Providers are poised to offer complete online mortgages as soon as digital

signatures are legalised. This is expected to happen once the E-Commerce

Bill has passed through Parliament.

Sharing the costs of software is the easiest way for small IFA firms to

afford software compatible with product providers, says March. This would

enable them to complete entire transactions online, creating paperless


March says getting the right software in the first place is vital. He

says: “IFAs will have to invest in technology and keep up to speed with

lenders. Setting up consortiums could be a way to afford this. There is a

potential danger for IFAs if they get left behind in the e-mortgage



IFAs get a line on The Exchange

The Exchange is offering IFAs free ISDN installation and WAP mobile phonehandsets in a move it says will speed up its quotation service. The companysays the ISDN connections will give intermediaries faster access to productquotations, business services and financial strength research through itsExweb service.The offer is running alongside The Exchange&#39s WAP launch to consumerswhich will […]

Life offices refute claims of clawback blundering

Life offices deny that they are making a huge number of commissionclawback claims in error despite the findings of network DBS.As reported last week in Money Marketing, DBS discovered that half ofcommission clawback claims made to its members were not genuine. Theanomaly was discovered when it set up an online service enabling IFAs tocheck on […]

Life offices wary of criticising ABI kitemark scheme

Life offices have expressed reservations over the ABI&#39s brandaccreditation project which is aimed at raising industry standards.While many life offices agree in principle with the aims of Saltr – theSavings and Long-Term Risk project – they fear it could damage theirbusinesses.However, there is concern that if they are openly critical of the ABI&#39sinitiative, life offices […]

Liverpool Victoria hires new chairman

MoneyMarketing can exclusively reveal that Liverpool Victoria Friendly Society has announced that Stephen Moran will take over as chairman from May 16.Moran, former director of insurance and investment at Lloyds TSB until his retirement in 1997, will succeed current chairman Andrew Noble who is retiring.The change will be formally announced until the company&#39s annual general […]


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